Shareholders of Tourist Company of Nigeria Plc have approved the cancellation of N876,781,264 divided into 1,753,562,528 ordinary shares of N0.50 kobo each from the company’s total existing share capital of N2bn divided into four billion ordinary shares of N0.50 each to N1,123,218,736 divided into 2,246,437,472 ordinary shares.

The approval was given at the company’s Extraordinary General Meeting held at the Federal Palace Hotel & Casino by 2:30 pm, as part of the special business in accordance with the memorandum and articles of association and the requirements of the Companies and Allied Matters Act of 2020.